Turkey arrests dozens in Thodex crypto exchange fraud probe
Turkish authorities are seeking a so-called 'red notice' from Interpol that would help them track down and arrest the founder of one of the country's biggest cryptocurrency exchanges, Thodex. Faruk Fatih Ozer, who's said to have fled to Albania, abruptly stopped payments to its 390-thousand active users. Turkish police have detained 62 people in eight cities including Istanbul, where Thodex is based, while 16 others remain at large.
UK retail sales jump in March before lockdown easing
UK retail sales jumped more than expected in March - the last month before coronavirus restrictions were eased. The volume of overall sales rose by 5-point-4 percent last month, thanks to purchases at clothing and gardening stores. Sales were also 1-point-6 percent higher than in February last year, before the pandemic struck.
Panasonic to buy US software firm Blue Yonder for $7.1B
Panasonic has agreed to buy US supply-chain software company, Blue Yonder, for 7-point-1 billion dollars. The deal marks the Japanese electronics giant's largest acquisition in a decade, as it looks to tap growing demand for artificial intelligence technologies. Last year, Panasonic bought a 20-percent stake in the company for 800-million dollars
23 Apr 2021
April 22, 2021 Biz in 60
Turkey opens probe into cryptocurrency platform Thodex
Turkish prosecutors have launched an investigation into Turkish cryptocurrency exchange platform, Thodex. That's after the exchange abruptly shut down while holding at least 2-billion dollars, leaving thousands of users unable to access their digital assets. A preliminary assessment by police suggests Thodex's founder Faruk Fatih Ozer had flown out of the country on Tuesday.
US weekly jobless claims fall to lowest level of COVID-19
US jobless claims fell more than expected last week as economic activity rebounded following the further easing of the coronavirus restrictions. Another 576-thousand people filed for unemployment benefits, down from 769-tthousand in the week prior. Claims are now at the lowest level since mid-March last year, when the COVID-19 pandemic began.
Credit Suisse reports $275M Q1 loss after Archegos scandal
Credit Suisse swung to a loss in the first quarter as it reels from back-to-back crises involving Archegos Capital and Greensill Capital. Net loss at the Swiss lender came in at 275-million dollars, driven by a 4-point-7 billion dollar loss linked to the collapse of Archegos. The bank says it'll raise nearly 2-billion dollars in capital to rebuild its balance sheet
23 Apr 2021
April 21, 2021 Biz in 60
UAE becomes second biggest buyer of US Treasury securities
The United Arab Emirates surpassed China to become the second-biggest buyer of US Treasury securities in February after the UK. The oil-rich Gulf nation has added nearly 17-billion dollars' worth of US debt since January, raising its holdings to 50-point-6 billion dollars. The monthly haul was the biggest ever for the UAE.
Australia scraps Victoria's Belt and Road deals with China
Australia has scrapped agreements that the state of Victoria struck with China to co-operate on Beijing's Belt and Road Initiative. Foreign Minister Marise Payne says the deals agreed in 2018 and 2019 were inconsistent with Australia's foreign policy. Two other agreements between Victoria and the governments of Iran and Syria have also been cancelled.
UK sues video app TikTok over use of children's data
TikTok is being sued for several billion dollars for violating UK and EU data protection laws. The suit filed in London accuses the popular video app and its Chinese parent company, ByteDance, of illegally collecting the personal information of millions of children in the UK and Europe. TikTok says the claims are meritless and that it would defend itself in court.
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